The pandemic might have been a nightmare for the whole world, but it sure did prove many things to humankind, reminding it of its fragile existence. It put our physical and mental health through a stress test and its results were very clear. The need for modern medical research and solutions goes far beyond virology, immunology, and epidemiology and several solutions have also emerged to meet those. There’s no better time to be in the medical startup line than now. Here are 5 Health-Tech Startups that truly highlight the challenges facing the healthcare sector and how they apply emerging technologies to meet those challenges.
1. Babyscripts
Global health crisis and a shortage of obstetrical providers is a combination that spells OBGYN nightmare. And nightmare it was, during the pandemic deaths and lockdowns. That’s when we saw 100% of clients of some providers shit to remote-monitoring tools. Babyscripts is one of such remote-monitoring tools which is specifically designed to help OBGYNs safely keep their patients out of the clinic all the while maintaining their quality care. In the early months of 2020, Babyscripts witnessed a phenomenal growth of up to 600% in its usage. This remote monitoring platform allows the providers to track vital signs like BP and make intervention easy as soon as an elevated risk is detected. Important changes like changes in hospital visitation policies etc are also relayed by the app to the patients.
CEO and co-founder Anish Sebastian said that for 2021, Babyscripts is piloting a first-of-its-kind product for real-time remote monitoring of maternal mental health, facilitated by a care provider. This is under beta testing at George Washington Medical Faculty Associates before it finally launches.
2. Fisher Wallace Laboratories
Scientists always predicted mental health pandemic coming at us after the COVID-19 situation. This statement came about to be true as the clinics came under stress trying to meet the demand for mental health services. But some people have little to no access to prescription drugs and for such situations, a solution emerged in the form of Fisher Wallace Laboratories. They have created a unique cranial electrotherapy device, the only transcranial device on the market. According to the chairman Chip Fisher, this device has seen a 25% increase in its demand and already, more than 10,000 physicians and other mental health professionals have prescribed the device for their patients already
Showing promising results in the clinical trials, the Fisher Wallace stimulator claims to treat depression, anxiety, and insomnia by activating key neurotransmitters after a 20-minute treatment. These neurotransmitters include dopamine, beta-endorphin, and serotonin. It also lowers cortisol which is a stress hormone. The FDA is currently moving toward Class II approval for the device.
3. TailorMed
TailorMed is a software platform that helps the healthcare system and specialty practices identify the patients at risk of not being able to afford their treatment and healthcare and finding various resources for them to get financial assistance from. The assistance can be from community or state resources, insurance plans, premium assistance, and also programs that support patients with their living expenses. Serving such a noble cause, TailorMed is now in more than 50 healthcare facilities and 200 clinics nationwide.
CEO Srulik Dvorsky was inspired to create this company after serving as a caregiver for several family members with cancer. From this experience he recognised how patients who couldn’t afford their medical bills became stress as a result of the high-cost healthcare and the in turn the resulting financial strain it put on the healthcare providers.
4. Dadi
Even though the statistics say that male infertility accounts for 40 to 50% of infertility cases, very few medical innovations are there to help men suffering from it. Dadi is an innovation that comes in as exactly that.
It is a take-home sperm testing kit that returns a complete medical evaluation within 24 hours after it arrives at the laboratory. If the patient’s sperm is healthy, Dadi can cryogenically store the sample in its state-of-the-art, secure lab facility. A viable deposit is divided into three separate vials, giving each patient three opportunities to fertilize an egg with one kit. Just like some women choose to embrace motherhood later in their life and hence go for freezing their eggs, many men are also choosing to do so with their sperm to guard against a future medical condition or hormonal deficiency. CEO Tom Smith says his clients include men in their late teens to their 70’s.
5. HealthBridge
Apart from overwhelming unemployment and medical emergencies, medical plans that carry high deductibles have caused many to avoid visiting their doctor when they ought to. This always has consequences, either in the time period the patients take to get better again or in the form of health problems coming at a later stage in their life.
Launched in 2019, HealthBridge expanded in 2020 as the demand for financial assistance escalated. Its goal is to make healthcare more affordable and accessible. It covers an employee’s medical expenses, such as deductibles and copays, and consolidates them into a single monthly installment plan much like a credit card without the added interest.
